--- canonical_url: "https://csls.ca/research/human-well-being-and-economic-well-being-what-values-are-implicit-in-current-indices/" title: "Human Well-being and Economic Well-being: What Values Are Implicit in Current Indices?" author: name: "spatel" url: "https://csls.ca/author/spatel/" date_published: "2026-07-02T14:07:58+00:00" date_modified: "2026-07-09T21:01:04+00:00" post_type: "research" summary: "" post_tag: - "economic security" - "HDI" - "Human Development Index" - "IEWB" - "Index of Economic Well-Being" - "inequality" - "international comparison" - "OECD" - "well-being" country_focus: - "Australia" - "Canada" - "UK" - "United States" province_region: - "National" research_theme: - "Economic Well-Being" - "Productivity and Economic Measurement" featured_image: "https://csls.ca/wp-content/uploads/2026/07/old-reports_hero_banner_bg.webp" status: "publish" --- # Human Well-being and Economic Well-being: What Values Are Implicit in Current Indices? Canonical URL: https://csls.ca/research/human-well-being-and-economic-well-being-what-values-are-implicit-in-current-indices/ # Human Well-being and Economic Well-being: What Values Are Implicit in Current Indices? [Download full PDF report](https://csls.ca/pdf/csls2003-04.pdf) Cite this report × Cite this report as: Osberg, Lars, and Andrew Sharpe. 2003. “Human Well-being and Economic Well-being: What Values Are Implicit in Current Indices?” CSLS Research Report 2003-04. Ottawa: Centre for the Study of Living Standards. https://csls.ca/research/human-well-being-and-economic-well-being-what-values-are-implicit-in-current-indices/ ## Authors: - Lars Osberg Department of Economics, Dalhousie University - Andrew Sharpe Centre for the Study of Living Standards (CSLS) ## Report 2003-04 August 2003 60 pages ## Related research [Measuring the Appropriate Outcomes for Better Decision-Making: A Framework to Guide the Analysis of Health Policy Matthew Calver March 2016 | Report 2016-03 | 132 pages](https://csls.ca/research/measuring-the-appropriate-outcomes-for-better-decision-making-a-framework-to-guide-the-analysis-of-health-policy-2016-03/) [Living Standards Domain of the Canadian Index of Wellbeing Andrew Sharpe, Christopher Ross November 2011 | Report 2011-17 | 124 pages](https://csls.ca/research/living-standards-domain-of-the-canadian-index-of-wellbeing-2011-17/) [Productivity: Key to Economic Success Centre for the Study of Living Standards (CSLS) March 1998 | Report 1998-01 | 99 pages](https://csls.ca/research/productivity-key-to-economic-success/) [A Survey of Indicators of Economic and Social Well-being Andrew Sharpe July 1999 | Report 1999-cprn | 72 pages](https://csls.ca/research/a-survey-of-indicators-of-economic-and-social-well-being/) [Raising Canadian Living Standards: A Framework for Discussion Centre for the Study of Living Standards (CSLS) October 2002 | Report 2002-td | 56 pages](https://csls.ca/research/raising-canadian-living-standards-a-framework-for-discussion/) [An Analysis of Productivity Trends in the Forest Products Sector in Canada Centre for the Study of Living Standards (CSLS) February 2003 | Report 2003-01b | 64 pages](https://csls.ca/research/an-analysis-of-productivity-trends-in-the-forest-products-sector-in-canada/) [An Index of Labour Market Well-Being for OECD Countries Lars Osberg, Andrew Sharpe September 2003 | Report 2003-05 | 37 pages](https://csls.ca/research/an-index-of-labour-market-well-being-for-oecd-countries/) [China’s Productivity Performance and Its Impact on Poverty in the Transition Period Centre for the Study of Living Standards (CSLS) September 2003 | Report 2003-07 | 81 pages](https://csls.ca/research/chinas-productivity-performance-and-its-impact-on-poverty-in-the-transition-period/) [Exploring the Linkages between Productivity and Social Development in Market Economies Andrew Sharpe February 2004 | Report 2004-02 | 70 pages](https://csls.ca/research/exploring-the-linkages-between-productivity-and-social-development-in-market-economies/) [Literature Review of Frameworks for Macro-indicators Andrew Sharpe February 2004 | Report 2004-03 | 79 pages](https://csls.ca/research/literature-review-of-frameworks-for-macro-indicators/) ## Abstract ## Résumé EN FR Copy link Email LinkedIn This paper develops an Index of Economic Well-being (IEWB) for the United States, the United Kingdom, Canada, Australia, Germany, Norway and Sweden for the period 1980 to 2001 which recognizes four components: Current effective per capita consumption flows; Net societal accumulation of stocks of productive resources; Income distribution; Economic security. Since the Human Development Index uses GDP per capita to measure “command over resources”, which implicitly makes the strong value judgment that inequality and insecurity do not matter, the paper demonstrates that a better measure of “command over resources” has a significant effect on the trend and level of the HDI – particularly for the United States, which slips to last place among the countries examined. Cet article élabore un Indice de bien-être économique (IBEE) pour les États-Unis, le Royaume-Uni, le Canada, l’Australie, l’Allemagne, la Norvège et la Suède pour la période de 1980 à 2001, comprenant quatre composantes : les flux de consommation effective par habitant; l’accumulation nette sociétale des stocks de ressources productives; la répartition du revenu; et la sécurité économique. Comme l’Indice de développement humain utilise le PIB par habitant pour mesurer la « maîtrise des ressources », ce qui implique un jugement de valeur fort voulant que l’inégalité et l’insécurité n’aient pas d’importance, l’article démontre qu’une meilleure mesure de la « maîtrise des ressources » a une incidence importante sur la tendance et le niveau de l’IDH — particulièrement pour les États-Unis, qui glissent au dernier rang parmi les pays examinés. [Download full PDF report](https://csls.ca/pdf/csls2003-04.pdf)